Rental Terms & Conditions

1. Equipment Rental Agreement Scope

These Rental Terms & Conditions govern the temporary lease and deployment of computing hardware (business laptops, desktop workstations, servers, high-lumen projectors, and audio-visual displays) provided by VEL SYSTEMS to corporate enterprises, educational institutions, exam testing bodies, event organizers, and registered individual clients.

2. Corporate KYC & Documentation Requirements

Prior to equipment dispatch, the renter must furnish the following verification documents:

• Registered Corporate Entities: Valid GST Registration Certificate, Company PAN Card, Board Resolution or Letter of Authorization on corporate letterhead, and official Purchase Order (PO).
• Educational Institutions: Institutional affiliation certificate, authorized Principal / Registrar signature, and campus delivery contact credentials.
• Individual Renters: Government photo ID (Aadhaar / Voter ID), local proof of residence in Tamil Nadu, and employment / student verification.

3. Rental Tenure, Renewal & Extensions

• Rental tenure commences upon the date of physical delivery confirmed by signed delivery challan and expires at 6:00 PM on the designated end date.
• Renters wishing to extend the rental lease must provide written notification at least 3 business days prior to tenure expiry. Extensions are billed at prevailing monthly renewal rates.
• Equipment returned post-expiry without formal extension authorization will be billed at standard daily overstay rates.

4. Security Deposits & Refund Guidelines

Depending on corporate credit rating and order volume, a refundable security deposit may be required:

• Security deposits are held in escrow and do not accrue interest.
• Upon return of rented hardware, our laboratory conducts physical and functional testing within 48 business hours.
• Upon successful return clearance (intact casing, functional display, genuine original power adapter returned), 100% of the security deposit is refunded via NEFT/UPI within 3 business days.

5. Hardware Maintenance SLA & Replacement Guarantee

During the active lease period, VEL SYSTEMS remains responsible for all internal hardware component failures and routine operating maintenance:

• If a rented laptop, desktop, or projector experiences spontaneous hardware failure, our engineering team provides on-site troubleshooting within 2 hours in Chengalpattu.
• If the unit cannot be repaired immediately, a comparable or higher-spec replacement unit is provided within 4 hours to guarantee business continuity.

6. Asset Care, Loss & Damage Liabilities

Normal operational wear and tear (minor surface scuffs) is accepted. However, the renter is liable for:

• Gross negligence, screen cracks, liquid ingress, or physical chassis breakage (billed at cost of replacement parts).
• Loss or theft of equipment while in renter possession (billed at the fair market replacement value of the device).
• Unreturned AC power adapters and video cables (billed at standard replacement cost).